Kayne Anderson Capital Advisors LP has reduced its holdings in Sempra Energy (NYSE: SRE) by 4.8% in the second quarter of 2023. According to the firm’s recent Form 13F filing with the U.S. Securities and Exchange Commission (SEC), Kayne Anderson now owns 627,068 shares of the energy provider after selling 31,305 shares during the quarter. Sempra Energy accounts for approximately 1.1% of the firm’s investment portfolio, ranking as its 19th largest holding.
At the end of the most recent quarter, Kayne Anderson’s stake in Sempra Energy was valued at roughly $47.5 million. Other institutional investors have also adjusted their positions in the company. For instance, Vanguard Group Inc. increased its stake by 1.9% in the first quarter, now holding 64,238,102 shares valued at approximately $4.58 billion after acquiring an additional 1,220,047 shares.
Wellington Management Group LLP made a more significant adjustment, boosting its holdings by 26.8% in the same period, bringing its total to 48,686,047 shares worth around $3.47 billion. Newport Trust Company LLC and Price T. Rowe Associates Inc. also increased their investments, with Newport Trust lifting its position by 0.3%, and Price T. Rowe adding 4.0% to its stake.
Currently, institutional investors and hedge funds hold approximately 89.65% of Sempra Energy’s stock.
Sempra Energy Stock Performance and Dividends
As of October 5, 2023, shares of Sempra Energy opened at $92.40. The stock has seen a 12-month low of $61.90 and a high of $95.77. With a market capitalization of $60.29 billion, its price-to-earnings (P/E) ratio stands at 22.32, while the price-to-earnings-growth (PEG) ratio is 2.84, indicating the stock’s growth relative to its earnings. The company has a current ratio of 0.48, a quick ratio of 0.41, and a debt-to-equity ratio of 0.93.
Sempra Energy recently declared a quarterly dividend, which was paid on October 15, 2023. Shareholders on record as of October 1 received a dividend of $0.645 per share, translating to an annualized dividend of $2.58 and a yield of 2.8%. The ex-dividend date was also October 1, and the company’s current dividend payout ratio is 62.32%.
Insider Transactions and Analyst Ratings
Recent insider activity at Sempra Energy includes a sale by Director Kevin C. Sagara, who sold 14,433 shares on September 29, 2023, at an average price of $89.50 for a total of $1,291,753.50. Following this transaction, Sagara retained only 1,042 shares valued at $93,259, marking a significant 93.27% decrease in his holdings. Additionally, Executive Vice President Caroline Ann Winn sold 5,114 shares on August 14, 2023, for a total of $419,399.14, reducing her ownership by 11.49%.
In total, insiders have sold 48,411 shares valued at approximately $4.14 million over the past three months, with insider ownership currently at 0.27%.
Sempra Energy has been the focus of several research reports recently. Evercore ISI has set a price target of $105.00 for the stock, rating it as “outperform.” Weiss Ratings has maintained a “hold (C+)” rating, while Morgan Stanley has restated an “overweight” rating, setting a target of $99.00. Citigroup raised its target from $70.00 to $80.00, and Wells Fargo & Company initiated coverage with an “overweight” rating, targeting $115.00.
According to MarketBeat.com, the stock currently holds a consensus rating of “Moderate Buy” with an average target price of $94.00.
Sempra Energy operates as an energy infrastructure company with segments including Sempra California, Sempra Texas Utilities, and Sempra Infrastructure, providing electric and natural gas services primarily in the United States.
